Donegal Group Stock Forecast
Green day on Thursday for Donegal Group
(Updated on May 02, 2024)
The Donegal Group stock price gained 0.148% on the last trading day (Thursday, 2nd May 2024), rising from $13.50 to $13.52. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.64% from a day low at $13.42 to a day high of $13.64. The price has been going up and down for this period, and there has been a -0.88% loss for the last 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 43 thousand shares were bought and sold for approximately $579.74 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $13.66 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.79% during the next 3 months and, with a 90% probability hold a price between $11.81 and $12.73 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DGICA Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Donegal Group stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.59 and $13.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -4.79%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Donegal Group stock
Donegal Group finds support from accumulated volume at $13.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.220 between high and low, or 1.64%. For the last week the stock has had daily average volatility of 1.92%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DGICA) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Donegal Group to open at $13.53, and during the day (based on 14 day Average True Range), to move between $13.22 and $13.82, which gives a possible trading interval of +/-$0.296 (+/-2.19%) up or down from last closing price. If Donegal Group takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.50 (0.15%) than the resistance at $13.97 (3.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Donegal Group stock A Buy?
Donegal Group holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.844 Sell Candidate Unchanged
Predicted Opening Price for Donegal Group of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $13.53 ( 0.0493%) | $13.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DGICA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.75 | 1.68 % | |
| R2 | 13.66 | 1.05 % | ||
| R1 | 13.61 | 0.671 % | ||
| Current price: | 13.52 | |||
| Support | S1 | 13.44 | -0.572 % | |
| S2 | 13.39 | -0.96 % | ||
| S3 | 13.31 | -1.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.20 | 5.03 % | |
| R2 | 14.04 | 3.85 % | ||
| R1 | 13.97 | 3.33 % | ||
| Current price | 13.52 | |||
| Support | S1 | 13.50 | -0.148% | |
| S2 | 13.40 | -0.89% | ||
| S3 | 13.22 | -2.22% |
DGICA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | May 07, 2024 | $0 | 0% |
| 2 | Dec 21, 2023 | Jan 31, 2024 | Feb 15, 2024 | $0.170 | 1.13% |
| 3 | Oct 19, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.170 | 1.19% |
| 4 | Jul 20, 2023 | Jul 31, 2023 | Aug 15, 2023 | $0.170 | 1.14% |
| 5 | Apr 20, 2023 | Apr 28, 2023 | May 15, 2023 | $0.170 | 1.18% |
FAQ
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